Dow Jones closes up 127 points despite Fed inflation warning

NEW YORK, New York - U.S. stocks made modest gains on Tuesday, particularly in the tech sector, despite the Federal Reserve chair admitting inflation is staying higher than the Fed anticipated and that interest rates will likely have to be maintained at current levels for longer.

"We did not expect this to be a smooth road. But these (inflation readings) were higher than I think anybody expected," Fed Chair Jerom